NFT Marketplace Says $4.5 Million in Crypto Has Been Stolen

The cryptocurrency heists just keep on coming: Vulcan Forged announced Sunday that 4.5 million PYR was recently stolen from 148 compromised wallets.

Vulcan Forged described itself as “an established non-fungible token (NFT) game studio, marketplace and dApp incubator with 10+ games, a 2,000+ community and top 5 NFT marketplace volume” in the whitepaper (PDF) announcing its PYR token.

PYR’s value pales in comparison to other tokens. CoinMarketCap puts its highest price at $46.62 on December 1. It was trading around $30.98 before Vulcan Forged’s disclosure; its price has dropped to approximately $22.14 at the time of writing.

148 wallets holding PYR have been compromised. Over 4.5m PYR has been been stolen.While we will replace the PYR taken, our first steps are understanding what’s happened.No words can do much right now, we know that. We’ll keep updated.December 13, 2021

That drop means whoever stole the 4.5 million PYR made off with $99.6 million rather than $139.4 million. (And that’s assuming they can offload nearly one-quarter of the token’s circulating supply, which CoinMarketCap puts at 18.9 million tokens.)

This haul is much smaller than the $600 million stolen from—and later returned to—Poly Network in October either way. But it comes in pretty close to the more recent theft of $150 million worth of ETH and BSC tokens from BitMart.

Credit: Source link